Writing in today’s Financial Review, Michael Read reports: “Federal Labor’s landmark policy to build 1 million new homes in five years is on track to fail..” Great opening line, seething with dark humour. Politicians in charge, make decisions, failure arrives on cue.
Continue reading#Energy
Australian energy production by fuel mix
For the 3 months to 25 January 2023, the Australian energy market operator reports the following supply sources.
Continue readingWow! Solar has overtaken coal in energy generation in winter in Australia- read all about it in the @FinancialReview
So shouts the headline in today’s edition of the Australian Financial Review.
Big news, right? I was interested and so I read on.
Continue readingCoal
In its most recent report into coal (prices, supply and demand), the International Energy Agency presents plenty of data to depress a greenie. Or a certain teenage Swede.
In short, prices are up, demand is up and supply is reorganising as China and Russia disrupt supply chains.
Continue readingMarket failure?
Oh dear. The Australian Energy Market Operator has suspended the market. The Operator says the market was “impossible to operate”. Does this constitute a market failure? It’s definitely a failure of something.
I say it’s not a market failure. That’s because it’s not a real market. The authoritarian left often decries market failure as reason for Government intervention in all manner of ways. Well, here’s an example of a highly restricted and distorted pseudo market failure right in front of our eyes at a time when the energy supply is tottering on the verge of blackouts.
The reason for this failure is precisely due to years of Government intervention, mismanagement and lies. Goodness knows what happens from here, but mark June 2022 as the month in which the creaking facade masquerading as an energy system in Australia crumbled.
Energy production in Australia
Update from 17 June, 5:30 pm AEST: coal and gas are currently producing 78% of Australia’s electricity supply.
We need more renewables, obviously. Look at the contribution to Australia’s energy supply over the last 48 hours. After decades of subsidies to promote windmills, solar panels, hydro schemes and biofuels, the total output of renewable sources is woefully tiny. Not enough subsidies, I expect.
Give the customers what they want
The best way to succeed in business is to give the customers what they want. This announcement from Rio Tinto clearly pleases one campaigner from the Conservation Foundation, but I’d be surprised if she is a Rio customer.
Rio customers looking for a supply of aluminium that is high quality, reliable and low cost are unlikely to be pleased with the outcome of this decision.
Australian Actuary 